New York City’s transit system is facing a massive budget shortfall, with a recent report from the State Comptroller revealing a $211 million deficit due to the pause in congestion pricing.
According to a shocking new report from the New York State Comptroller’s office, the MTA is facing a significant budget crisis, with a $211 million shortfall caused by the pause in congestion pricing.The financial gap, which could grow even larger in the coming years, is sparking fears of service cuts or fare hikes in the nation's largest public transit system.RELATED: Gov.
"The system deteriorating and then service deteriorating are the two outcomes that could happen over time if they don't get that funding," said New York State Deputy Comptroller Rahul Jain. He added that even if the MTA finds cost savings, it won’t be enough to close the financial gap without new revenue.Janno Lieber, MTA Chair and CEO, warned that without additional funds, tough choices lie ahead.
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